• Fifth generation of the world’s most successful high-performance saloon in the premium segment of the executive class; new BMW M5 is an exceptionally dynamic high-performance sports car with four doors and five seats; consistent further development of the vehicle concept initiated in 1984 with the first-generation BMW M5; compelling track potential combines with the comprehensive practicality of a luxurious business saloon; groundbreaking character headlined by significantly improved efficiency, supreme long-distance comfort, and innovative driver assistance systems and infotainment functions.

• Outstandingly agile handling thanks to innovative rear axle differential with Active M Differential; electronically controlled multi-plate limited-slip differential enables fully variable distribution of drive between the rear wheels to optimise traction and stability in dynamic lane change manoeuvres and acceleration out of corners; degree of lock can be varied between 0 and 100 per cent according to the situation; fast, precise and pre-emptive responses thanks to constant data cross-checking between the Active M Differential and DSC stability control system, and monitoring of the accelerator pedal position, wheel speed and yaw rate.

• Two individually configured set-ups for the car can be called up using the new M Drive buttons on the steering wheel; range of programmable parameters unique in the segment: accelerator responses, M Servotronic responses, Drivelogic shift program, DSC mode, Dynamic Damper Control and information in the Head-Up Display.

"Throughout each of its four previous generations, the heart of the BMW M5 has been its high-revving, high output-per-liter engine fed by individual throttle plates.

The new M5 engine introduces VALVETRONIC variable valve control system for the first time on a BMW M engine – effectively providing 16 individual throttles.

VALVETRONIC is BMW’s patented fully variable valve control system that eliminates the need for conventional throttles. Engine power is instead controlled directly by varying the amount of lift of the intake valves. Throttle losses in the gas cycle are minimized with this system, which has a positive impact on both the efficiency and torque. VALVETRONIC has also sharpened the responsiveness of this engine compared to the V10 engine it replaces."

BIMMERPOST Q&A (answers are a mix of direct quotes, paraphrases and my own contributions):

Can Competition Package parts/software be retrofitted?

No, official retrofit support will not be provided by BMW here in the U.S. But, of course some parts can be retrofitted by individual owners if they went to enough lengths to do so. Some things would be easier of course, but steering and software would be difficult. The demand for retrofit is lower in U.S. due to the higher lease penetration and higher car turnover. In comparison, Europe supports retrofitting more than the U.S.

Are the M differential "tune" and MDM software updates going to be available to upgrade pre-LCI M5/M6?

No official retrofit will be available for Competition Package features. But, a high level update was made to all M5 and M6 produced from March 2013 (to prepare it for ceramic brakes option). Changes included 1) smaller torsion bar in the hydraulic steering system which affects how the steering system (better) responds on center, 2) programming for the steering system and 3) stiffer front bushings to better deal with increased brake forces from optional ceramic brakes.

Note: the steering and suspension changes mentioned above are not the same ones that come with the Competition Package.

How much lighter are the competition wheels?

They are not lighter.

Is the Competition Package Sport Exhaust different than upcoming M Performance Exhaust?

Yes, it's positioned between the stock exhaust and the M Performance Exhaust [our details and clips]. It's not titanium like the M Performance Exhaust. It's sportier sounding than the stock exhaust by having its baffles pulled from the muffler. No power gains and no flow change.

What are the changes made to steering with the new Competition Package and how does it make the M5 "feel"?

In addition to the changes made in March 2013 (detailed above), the Competition Package includes a faster steering rack and related steering software. It has a faster on-center steering ratio compared to stock, which eventually ends in the same ratio as stock at the end of the rack. So, the on-center ratio is faster, quicker, and more direct which provides for a more precise feeling around center.

The +15 HP increase comes from which component(s)?

Only boost mapping - the effects of which take place at the top of the rev range.